Italy: Market for Iron or Steel Wire Products 2024

Market Size for Iron or Steel Wire Products in Italy

The Italian market for iron or steel wire products shrank slightly to $X in 2022, dropping by X% against the previous year. Overall, consumption, however, continues to indicate a temperate expansion. Iron or steel wire product consumption peaked at $X in 2019; however, from 2020 to 2022, consumption failed to regain momentum.

Production of Iron or Steel Wire Products in Italy

In value terms, iron or steel wire product production reduced markedly to $X in 2022 estimated in export price. Overall, production, however, recorded a relatively flat trend pattern. The most prominent rate of growth was recorded in 2021 with an increase of X%. Iron or steel wire product production peaked at $X in 2014; however, from 2015 to 2022, production failed to regain momentum.

Exports of Iron or Steel Wire Products

Exports from Italy

In 2022, iron or steel wire product exports from Italy declined rapidly to X tons, falling by X% on the previous year. In general, exports continue to indicate a mild decrease. The most prominent rate of growth was recorded in 2021 when exports increased by X%. As a result, the exports reached the peak of X tons, and then declined notably in the following year.

In value terms, iron or steel wire product exports fell dramatically to $X in 2022. Overall, exports showed a relatively flat trend pattern. The most prominent rate of growth was recorded in 2021 with an increase of X% against the previous year. As a result, the exports reached the peak of $X, and then reduced rapidly in the following year.

Exports by Country

France (X tons) was the main destination for iron or steel wire product exports from Italy, with a X% share of total exports. Moreover, iron or steel wire product exports to France exceeded the volume sent to the second major destination, Germany (X tons), twofold. The third position in this ranking was held by Poland (X tons), with a X% share.

From 2012 to 2022, the average annual growth rate of volume to France amounted to X%. Exports to the other major destinations recorded the following average annual rates of exports growth: Germany (X% per year) and Poland (X% per year).

In value terms, France ($X) remains the key foreign market for iron or steel wire products exports from Italy, comprising X% of total exports. The second position in the ranking was held by Germany ($X), with a X% share of total exports. It was followed by the United States, with a X% share.

From 2012 to 2022, the average annual rate of growth in terms of value to France totaled X%. Exports to the other major destinations recorded the following average annual rates of exports growth: Germany (X% per year) and the United States (X% per year).

Export Prices by Country

The average export price for iron or steel wire products stood at $X per ton in 2022, growing by X% against the previous year. Over the period under review, the export price saw a mild increase. The most prominent rate of growth was recorded in 2020 an increase of X% against the previous year. The export price peaked in 2022 and is likely to continue growth in the immediate term.

Prices varied noticeably by country of destination: amid the top suppliers, the country with the highest price was the United States ($X per ton), while the average price for exports to Saudi Arabia ($X per ton) was amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was recorded for supplies to Israel (X%), while the prices for the other major destinations experienced more modest paces of growth.

Imports of Iron or Steel Wire Products

Imports into Italy

In 2022, approx. X tons of iron or steel wire products were imported into Italy; picking up by X% compared with the previous year. In general, imports saw a relatively flat trend pattern. As a result, imports reached the peak and are likely to continue growth in the immediate term.

In value terms, iron or steel wire product imports soared to $X in 2022. Overall, total imports indicated moderate growth from 2012 to 2022: its value increased at an average annual rate of X% over the last decade. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2022 figures, imports increased by X% against 2016 indices. The growth pace was the most rapid in 2021 with an increase of X% against the previous year. Over the period under review, imports hit record highs in 2022 and are likely to see steady growth in the near future.

Imports by Country

In 2022, Belgium (X tons) constituted the largest supplier of iron or steel wire product to Italy, accounting for a X% share of total imports. Moreover, iron or steel wire product imports from Belgium exceeded the figures recorded by the second-largest supplier, China (X tons), twofold. The third position in this ranking was held by Slovakia (X tons), with an X% share.

From 2012 to 2022, the average annual rate of growth in terms of volume from Belgium stood at X%. The remaining supplying countries recorded the following average annual rates of imports growth: China (X% per year) and Slovakia (X% per year).

In value terms, Belgium ($X) constituted the largest supplier of iron or steel wire products to Italy, comprising X% of total imports. The second position in the ranking was taken by China ($X), with a X% share of total imports. It was followed by Germany, with an X% share.

From 2012 to 2022, the average annual rate of growth in terms of value from Belgium amounted to X%. The remaining supplying countries recorded the following average annual rates of imports growth: China (X% per year) and Germany (X% per year).

Import Prices by Country

The average import price for iron or steel wire products stood at $X per ton in 2022, falling by X% against the previous year. In general, import price indicated moderate growth from 2012 to 2022: its price increased at an average annual rate of X% over the last decade. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2022 figures, iron or steel wire product import price decreased by X% against 2019 indices. The most prominent rate of growth was recorded in 2018 an increase of X% against the previous year. The import price peaked at $X per ton in 2019; however, from 2020 to 2022, import prices stood at a somewhat lower figure.

There were significant differences in the average prices amongst the major supplying countries. In 2022, amid the top importers, the country with the highest price was Germany ($X per ton), while the price for South Korea ($X per ton) was amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by the Czech Republic (X%), while the prices for the other major suppliers experienced more modest paces of growth.

Source: IndexBox Platform

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